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The Code Of Civil Procedure (Amendment) Act, 1956

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Income Tax Appellate Tribunal - Pune
C G Lucy Switchgear Ltd,, Nashik vs Assessee on 21 September, 2012
           IN THE INCOME TAX APPELLATE TRIBUNAL
                    PUNE BENCH "B", PUNE

      Before Shri Shailendra Kumar Yadav, Judicial Member,
             and Shri R.K.Panda, Accountant Member.

                         S.A.No.90/PN/2012
                Arising out of ITA.No.1425/PN/2012
                       (Asstt. Year : 2009-10)


     CG Lucy Switchgear Ltd.,
     F-10, MIDC, Ambad,
     Nashik - 422010.                               ..   Appellant
     PAN: AAACC9268P
                                    Vs.

     ACIT(CPC),
     Bangalore.                                     ..   Respondent

     Assessee by                :         Sri Pradip Kapasi
     Department by              :         Ms.Vinita Menon
     Date of Hearing            :         21.09.2012
     Date of Pronouncement      :         21.09.2012

                               ORDER

PER SHAILENDRA KUMAR YADAV, JM:

The assessee vide this stay petition has requested to stay demand of Rs.42,35,056/-. The assessee submitted that recovery of impugned demand should be stayed till disposal of the appeal by the Tribunal and concerned Revenue authorities should be restrained from recovering the impugned demand in question. The assessee has strong prima facie case in its favour. Balance of convenience is also lying in favour of the assessee and assessee will suffer irreparable loss in case recovery of impugned demand is not stayed. Ld. Authorised Representative also submitted that assessee has financial hardships so it is not in a position to make any payment. On the other hand Ld. Departmental Representative submitted that the assessee will not suffer any irreparable loss in case recovery of the impugned demand is not stayed, so stay petition should be rejected.

2

2. After going through the above submissions and material on record, we find that this is not a fit case for granting the stay. However, in the interest of justice, the assessee is granted early hearing and the Registry is directed to fix the case on 12.10.2012.

3. Accordingly, the stay petition is disposed off as indicated above.

Pronounced in the open court on this the 21st day of September, 2012.

        Sd/-                                         Sd/-
   ( R.K.PANDA )                          ( SHAILENDRA KUMAR YADAV )
ACCOUNTANT MEMBER                               JUDICIAL MEMBER

gsps

Pune, dated the 21st September, 2012 Copy of the order is forwarded to:

1. The Assessee
2. The ACIT(CPC), Bangalore.
3. The CIT(A)-I, Nashik.
4. The CIT-I, Nashik.
5. The DR "B" Bench, Pune.
6. Guard File.
By Order //TRUE COPY// Private Secretary, Income Tax Appellate Tribunal, Pune.